A 'foreign trust' is a trust governed by the laws of a foreign jurisdiction. It is not only for the rich, but is especially popular among families who apply for residency abroad, as well as complicated families with heirship issues. Foreign trust is most commonly used for asset protection (for example, from third party creditors, exchange control or other government interference), while its other functions include investment, estate planning and succession planning purpose. Depending on the country of trust formation, income generated outside the country is not subjected to any taxation. Some of the advantages of setting up a private foreign trust include the followings:
Via our associates in your destined country, Proxy provides you with foreign trust formation, administration, accounting and taxation services. We will also provide consultation in relation to the design of the structure to ensure that the principle's interest is well protected and that suitability is optimized for your scenario.